WTI crude oil is trending higher on the 1-hour time frame and is currently testing support. Another bounce off this area could spur a test of the resistance, although the $71 per barrel is serving as a strong ceiling. The 100 SMA is still above the 200 SMA to indicate that the path of least resistance is to the upside or that support is more likely to hold than to break. The 100 SMA lines up with the channel bottom to add to its strength as a floor, and the 200 SMA held as dynamic support on the dip. However, stochastic is already indicating overbought conditions or exhaustion among buyers. Turning lower would mean ... (full story)